This modeller shows how you build up pension in the LGPS from April 2014 onwards.
Each year 1/49th of your pay is added to your pension account and adjusted for the cost of living. The next year the same thing happens, and so on. The modeller allows you to enter assumptions for increases to your pay and the cost of living over the number of years you choose to see the effect on your pension build up. It also allows you to see how joining the 50/50 section will impact your pension build up.
The modeller will not provide an estimate of your pension benefits.
How this tool works
Enter a yearly pay figure and the assumptions you want to use for increases to pay and the cost of living. Choose how long you expect to be paying into the LGPS. The minimum period you can choose is two years – this is how long you must be a member of the LGPS for to qualify for a pension. The maximum period you can choose is 50 years. Although there is no limit on the number of years you can be a member of the LGPS you can only stay in the scheme up to your 75th birthday.
You can also choose if you want the modeller to show how being in the 50/50 section will impact your pension build up.